Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
Salesforce released its first earnings report since its $15.3 billion acquisition of Tableau Software, the company's largest deal ever.Technologyread more
Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Kudlow also confirmed to CNBC that he supported a tax cut proposal floated earlier Thursday by Sen. Rick Scott, R-Fla.Politicsread more
VMware is following through on its proposal to buy Pivotal, a fellow Dell subsidiary, and expanding into cybersecurity with the acquisition of Carbon Black.Technologyread more
Google says it shut down hundreds of YouTube channels tied to misinformation around the Hong Kong protests.Technologyread more
It is a rare scenario where long-term interest rates suddenly fall below short-term interest rates.Real Estateread more
Investors are rushing to get a piece of its privately held rival Impossible Foods before it goes public, according to the Wall Street Journal.Food & Beverageread more
Weisler has been CEO at the company since 2015 when it split from HPE.Technologyread more
Companies want to know our values and if they work with us, "they want to be aligned with those values," Salesforce co-CEO Keith Block says.Mad Money with Jim Cramerread more
Newell Brands stock plunged more than 20 percent Thursday after the Rubbermaid maker said it may sell off assets.
The company said it will explore strategic options for at least 10 of its industrial and consumer businesses. They include: Waddington, Process Solutions, Rubbermaid Commercial Products, Rawlings, Goody, Rubbermaid Outdoor and U.S. Playing Cards.
If Newell moves forward with all of its restructuring plans, the company's global factory and warehouse footprint would see a reduction of 50 percent.
The company plans to refocus on nine core consumer businesses, which generate $11 billion in total net sales, roughly 82 percent of Newell's fiscal 2016 sales.
The moves come a little over a year after its $13.22 billion acquisition of Jarden Corp. in a combination of two consumer giants with vast portfolios. Investors at the time questioned how difficult it would be to integrate a collection of brands spanning Elmer's Glue, Sharpie Pens and Yankee Candle. Several of the brands Newell is selling came from the Jarden acquisition.
"It's a big and broad portfolio, the work will not be easy, but it will come together through great leadership," Newell Brands CEO Michael Polk told CNBC after the deal closed.
Newell's stock was down nearly 22 percent by midday Thursday. Newell shares have lost more than 32 percent in the new year through Wednesday's close. In recent months, consumer products giants have seen escalating pressure from retailers, who are working hard to keep prices low to attract shoppers and manage their inventory.
Martin Franklin announced his resignation Thursday from the board, as did Ian G.H. Ashken and Domenico De Sole. The three had joined Newell's board as part of the acquisition.
"While there is still much work to be done, Domenico, Martin, and Ian have helped management and the Board bring these two great companies together into one of the leading branded goods companies," the company said in a statement.
Franklin is an investor known for his acquisition vehicles like Jarden and frozen food-focused Nomad Foods. He left the board because he felt limited in his ability to influence the company's strategy going forward, sources familiar with the situation said.
Those sources spoke on the condition of anonymity because the information is not public. Franklin could not be reached for comment and Newell declined to comment.
Part of the company's strategy, as outlined in 2016, has been a focus on driving growth through innovation.